European carbon emission prices rose to above €7 ($9.2) on Thursday after the EU Commission said it aims to bring forward a proposal for agreement by member states by the end of this year to curb the oversupply of carbon allowances in the EU Emissions Trading Scheme (ETS).
EU Climate Commissioner Connie Hedegaard made the announcement following an informal debate by EU environment ministers on the future of the ETS in Horsens, Denmark.
Hedegaard told reporters she has asked her climate department to bring forward the first...
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